Market Ends With Cuts, Sensex Sheds 250 Points

The Indian market fails to hold on to intra-day recovery, but Nifty closes above 19,600 following a volatile trading session. Sensex dips 248 points to 65,629, while Nifty sheds 46 points to close at 19,624. Nifty Bank slides 134 points to 43,754 and Midcap Index falls 35 points to end at 40,332.

Bajaj Auto surged as much as 7% to become the top gainer on the index following healthy second-quarter earnings and positive commentary from the management. LTIMindtree climbed 6% after reporting an in-line set of earnings and maintaining guidance for FY24. Nestle shares rose to hit an all-time high after the company announced a stock split in the ratio of 1:10 along with an in-line set of earnings.

Wipro slides more than 3% on lower-than-expected September quarter earnings and weak FY24 guidance. PVR slips 2% despite turning profitable in Q2FY24. UltraTech Cement rises nearly 3% after net profit jumps about 70% on a year-on-year basis. Astral becomes the top loser on the Midcap Index, shedding 6% even after the company announced a raise in FY24 guidance.

Bandhan Bank fell 4% after the Bank reported a disappointing set of second-quarter earnings. Hindustan Unilever and ITC ended the session near flatline ahead of their quarterly earnings.

Market breadth remains neutral today, advance-decline ratio at 1:1